Deutsche Konsum: FFO soars by 75 %
Deutsche Konsum has acquired property worth about €122mn during the first half of business year 2018/19, which is almost as much as the entire previous business year. In late March, the half-year report of the REIT quoted a secured portfolio of 121 retail properties with about €540mn book value and €46mn contracted annual rental income. The firm states that it is involved in purchase negotiations for further properties. As a result of the enlarged portfolio, rental income during the reporting period increased by about 56 % to €19.5mn, FFO even shot up by 75 % to €12.6mn. The 80 % increase in earnings to €11.5mn was due in part to the extra rental income and also to sales proceeds.
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